Posted in GeneralIn the wake of coronavirus and the possibility of negative impacts on the economy, trustees of pension funds need to focus on their fiduciary duties. Trustees must ensure that they are well-advised on the possible impact of COVID-19 on their investments and seek to mitigate any loss to assets under investment. The mitigation must include … Continue reading
Posted in GeneralCoronavirus is yet to test the rules of medical schemes. While it has been reported that a virus like COVID-19 would not usually be covered as a prescribed minimum benefit condition, where the virus amounts to an emergency condition then it will fall within the PMB legislation. In addition, to the extent that the virus … Continue reading
Posted in GeneralThe outbreak of COVID-19 (Coronavirus) has affected many areas of business, and the legal implications extend far beyond the obvious sectors such as tourism and employment law. Click here to look at our publications for a range of insights on the impact of the pandemic if it continues to spread. Here are eight areas affected … Continue reading
Posted in InsuranceThis Californian Appeal Court judgment previously discussed here (Part 1, Part 2 and Part 3)) was also required to consider the insured’s argument that the Civil Authority Coverage Clause applies because the government orders were made in direct response to the continued and increasing presence of the Coronavirus, a dangerous physical condition, on and around … Continue reading
Posted in InsuranceReaders who have been following the Covid-19 business interruption litigation in the USA will know that the courts have largely, at summary judgment stage, dismissed claims for coverage alleging that the virus caused physical damage to insured premises. That question has been now been pronounced upon by a jury trial. A Missouri Federal jury considered … Continue reading
Posted in BankingClimate change is no longer a future threat. The associated risks have already had a devastating impact on the financial sector. Financial institutions are financially exposed to the physical risks associated with more frequent severe weather events, as well as the transition risks associated with the changes necessary to achieve a low-carbon economy. Mortgage, commercial … Continue reading
Posted in GeneralConstruction sites and other workplaces need to comply with regulations and manage health and safety risks, while attempting to increase production, as we move into less restrictive lockdown levels. The announcement of South Africa’s move to lockdown Level 2 with effect from 18 August 2020 is being celebrated by almost all economic sectors. Despite this, … Continue reading
Posted in InsuranceIn South Africa and the United Kingdom, coronavirus coverage disputes are centring around the interpretation of various non-damage extensions provided under the policy’s business interruption section. In North America, both in Canada and the United States, the focus has been whether COVID-19 caused direct physical loss or damage to the insured property triggering business interruption … Continue reading
Posted in GeneralCompanies which are registered to perform essential services during the lockdown should have by now received a new certificate from the Companies and Intellectual Property Commission (CIPC) for the extended lockdown period. The old certificates are no longer valid and will have to be disposed of. The new certificates should be automatically emailed to companies … Continue reading
Posted in GeneralTo promote the dissemination of real time public information (and to help in combatting the spread of fake news), internet sites operating within za Domain Name Authority (.zaDNA) top level domain name must be updated to include a landing page with a visible link to www.sacoronavirus.co.za. .zaDNA is the statutory regulator and manager of ‘.za’ … Continue reading
